It’s hard to find a crypto investor who hasn’t heard of Solana or even owned a SOL token at some point in time. It is one of the “veteran” blockchain projects optimized for both dApps development and DeFi specific protocols. Solana currently has a market capitalization of $9.5 billion, making the asset the seventh largest cryptocurrency in the industry.
However, many traders may be concerned about when the SOL token will hit the heights of 2021 again. In anticipation of Solana’s potential rise, investors are switching to pre-sale projects. We are talking about those tokens that offer innovative initiatives and preferential value in the presale. In the article – SOL digital currency forecast and information about altcoins for portfolio diversification.
New altcoins that could rise in October
The cryptocurrency market is saturated with a lot of coins. Therefore, finding the next big coin that can grow 10 times or more can be quite a challenge. Analysts highlight two projects:
- Bitcoin Minetrix, an emerging startup that offers BTC mining via steaking, rewards of 1,242% per annum and a dashboard to monitor the asset’s mining operations. Over $800k has been invested in the useful token, and the coin is being sold at a discounted price of $0.011 in the early pre-sale phase.
- Meme Combat is a blockchain platform for “battles” of memes with visual effects created by AI, with multiple betting options and 112% yield. The pre-sale has raised over $400k, with the coin’s current value at $1,667.
Bitcoin Minetrix
The new Bitcoin Minetrix (BTCMTX) project is a great alternative for those who don’t want to spend thousands of dollars on mining equipment. Instead, any user can join BTC mining by investing as little as $10.
The blockchain platform provides the world’s first cloud mining ecosystem called Stake-to-Mine. This way, its users can avoid the problems associated with bitcoin mining at home (such as electricity costs or hardware noise).
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Investors are free to simply buy the digital currency Bitcoin Minetrix, BTCMTX, place it in the steaking pool and receive cloud mining credits. This protects the interests of users by providing a safe and transparent asset mining process. Earned ERC-20 tokens need to be burned in exchange for BTC cloud mining power.
Even in 2023, this field is far from the safest. Initial deposits are high, withdrawal problems are not uncommon. Not to mention cases of fraud that leave investors with no investment.
Bitcoin Minetrix solves these problems through decentralization and tokenization. Staking and mining participants within this new ecosystem have full control over all funds and can withdraw their earned tokens at any time. Moreover, Bitcoin Minetrix has passed the smart contract audit. The code turned out to be clean, which is another sign of transparency.
The lack of competition and the innovative idea made the project an instant hit, which was reflected in its presale. In just a couple weeks after the pre-sale launch, the platform raised over $800,000.
Given that Bitcoin Minetrix is still in the first stage of presale, the project’s own token – BTCMTX – is currently worth just $0.011. Of course, the coin will increase in price in the subsequent stages until it reaches an exchange value of $0.0119.
Project benefits:
- The current annual percentage yield for staking exceeds 1200%.
- It will be possible to mine bitcoin through an application for desktop and mobile devices.
- This method of mining does not harm the environment.
Meme Kombat
Meme Kombat (MK) is a new crypto-game in which the world’s most famous memes will “meet”. The goal is simple: to “fight” in the arena for the title of winner.
The first season of fights will begin after the completion of the pre-sale. Internet users’ favorite memes will participate: Shiba, Sponge, Wojack, Baby Doge, Pepe and others. Subsequent seasons will bring different updates and new characters, and it will be up to the Meme Kombat community to decide what to improve.
You can watch the battles in real time thanks to artificial intelligence. AI technology helps to create illustrations and depict vivid battle scenes. The results are automatically processed on the blockchain to increase transparency.
The founder of this project, Matt Whiteman, has already revealed his identity during the current pre-sale. This is a great indicator of the startup’s honesty, as most developers remain anonymous. The platform also scored well during Coinsult’s smart contract audit.
To have access to Meme Kombat’s earning models, you need to possess the project’s own token – MK. The coin can be both sent to steak at 112% per annum, and put it on fights.
Players have three transaction formats, as well as many additional markets. Spectators can study stats by making strategic trades based on risk tolerance and portfolio allocation. This means betting a certain proportion of available funds on a particular outcome. Prizes can include in-game rewards and free MK tokens.
There are 12 million coins in total, and 50% of them are available as part of the pre-sale. The altcoin is priced at $1,667 and the “hard” presale limit is 10 million.
Additional perks:
- Multiple betting options are available to users, which increases the chance of winning.
- Staking rewards accumulate instantly, without having to wait for the presale to complete.
- The initiative could gain popularity due to the huge communities behind meme coins.
Solana’s rate forecast for 2023
Solana Labs, an organization that creates products and tools to expand Solana’s online ecosystem, unveiled a new initiative last week. The company announced that it has released an open source reference platform that developers can use to launch their assets.
On top of that, blockchain representatives said: a transaction on the Solana network costs $0.00025, which is cheaper than other ecosystems.
Amid all this news, the SOL cryptocurrency has increased in value. Over the past seven days, the token has risen from $19.5 to $23, representing a 20% increase. This has positioned the coin as the second crypto asset after Thorcahain (RUNE) with the best performance over this period out of the main hundred tokens on the market.
However, according to analyst Miles Deutscher, the SOL asset is facing a FUD phenomenon. The term is used by market participants to describe the feeling of “fear, uncertainty and doubt”. It is this factor that causes some investors to sell their assets, creating supply pressure and a resulting drop in price.
On the other hand, a cryptocurrency trader known on the networks as Crypto Tony noted that the coin’s next target is $25.5. This level acted as support last July and resistance in August before being lost. Crypto Tony states that once such a price zone is re-established, it will be necessary to assess whether the bulls can take SOL to higher levels.
Completion
In its time, Solana managed to achieve excellent results ($260 per coin) and become one of the most coveted coins. Despite the fact that cryptozyme has greatly affected the token’s price, SOL remains in the top 10 global digital currencies and looks set to struggle to improve its position in the short to medium term.
Alternatively, traders looking for an investment with 10x upside potential can look to pre-sales. Various analysts predict that Bitcoin Minetrix and Meme Combat will be able to make gains in the current year.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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